Brendan Burgess
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Permanent TSB is being sued by five tracker mortgage customers in test cases over interest rates
The High Court is to hear five test cases from Permanent TSB (PTSB) customers who are each claiming more than €75,000 in compensation for allegedly being placed on the wrong tracker mortgage rate by the bank.
The High Court is to hear five test cases from Permanent TSB (PTSB) customers who are each claiming more than €75,000 in compensation for allegedly being placed on the wrong tracker mortgage rate by the bank.
Their cases were listed before Ms Justice Siobhán Stack last week and they are the first of more than 60 plaintiffs suing PTSB over alleged incorrect tracker rates.
Most involve customers who have not been covered by the redress scheme overseen by the Central Bank. They are all represented by Lawlor Kiernan solicitors.
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Each of the five cases represents a different section of the 60-plus plaintiffs who have initiated legal action against Permanent TSB.
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The interest rates applied by the bank varied between the European Central Bank ( ECB) rate plus 2.25pc to 3.25pc on top.